OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $1.70 Higher |
| LIVE CATTLE: | $0.42 Lower |
| DOW JONES: | 160 Points Higher |
| NASDAQ: | 100 Points Lower |
| CRUDE OIL: | $1.55 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 2.50 cents closing at $2.30 with one load traded. The barrel cheese price increased 0.50 cents closing at $2.49 with no loads traded. There was an unfilled bid and two uncovered offers for barrels remaining at the close. The dry whey price declined 1.50 cents closing at 59 cents with two loads traded. Class III futures are not paying attention to the strength of cheese with contracts 38 cents lower to 1 cent higher. The butter price declined 6 cents closing at $3.07 with three loads traded. This is the lowest price since July 24. Butter may have reached its high as supply remains available leaving buyers less aggressive. Grade A nonfat dry milk slipped 0.25 cents closing at $1.39 with five loads traded. Class IV futures have only traded in the February contract with the price 34 cents higher. Butter futures are steady to 5.15 cents lower. Dry whey futures are 0.55 to 1.72 cents lower.
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